[SamInTheLoop]

[QUOTE=honte;2660786]^ Those don't look half-bad. I'm so glad to see modernism go beyond downtown, even if it's pretty timid.

I do like them overall - very refreshing for out 'in the wards'. The mindset of people who think that modernism is something for just downtown is irritating to me beyond description...

[LA21st]

^ I'm liking that Kimball Station...Albany Park is a great, dense hood. Are these projects U/C? Proposed? in sales?

WOW! New TOD FOR ALBANY PARK!

[LA21st]

Somebody loves Diversey

Rockwell and Diversey. Ground floor retail. HUGE!

http://www.devadevelopment.com/Our_Properties/2602-2622_W_Diversey/Images/rendering.gif

Damen/Diversey. Ground floor retail.

http://www.devadevelopment.com/Our_Properties/1855-1923_W_Diversey/Images/rendering.gif

Diversey/Natoma (6600 W)!


http://www.devadevelopment.com/Our_Properties/Diversey_Natoma/Images/rendering.gif

[honte]

^ Top one's already built ... and it looks even worse in real life. You can see it from the Kennedy. :yuck:

[LA21st]

At least they add some density to the neigbhorhood. I get REAL tired of the cookie cutter 3-4 story condos and flats going up on every damn corner.

Of course, here is the worst one of all.
14th and Wabash. 1 commerial retail space.

http://www.devadevelopment.com/Our_Properties/1426-1440_S_Wabash/Images/rendering.gif

:yuck: :shrug: :koko: :rolleyes: :(

WHY?

[the urban politician]

At least they add some density to the neigbhorhood. I get REAL tired of the cookie cutter 3-4 story condos and flats going up on every damn corner.

Of course, here is the worst one of all.
14th and Wabash. 1 commerial retail space.

http://www.devadevelopment.com/Our_Properties/1426-1440_S_Wabash/Images/rendering.gif

:yuck: :shrug: :koko: :rolleyes: :(

WHY?

^ 14th and Wabash? WHOA!! What a friggin waste of prime real estate--that developer should be beaten & lynched

[the urban politician]

^ Top one's already built ... and it looks even worse in real life. You can see it from the Kennedy. :yuck:

^ I like those renderings. I want more of that stuff EVERYWHERE

[LA21st]

Fully agree. Its not the most attractive development, but it is mixed use and urban. Bring it on.
Parts of Kedzie, Irving Park, Western Ave, Ashland, Belmont, Montrose etc are starting to get these type of bigger developments on their respective commerical corridors.

[honte]

Well, the handsome Art Moderne factory that used to be on that site was even more mixed use and urban. And it employed a lot more people during its prime. Obviously, this is a useless point since we cannot change the nature of Chicago's shifting business climate, but I thought it was worth noting.

TUP, if you are serious, you are in luck. Most of the North Side is looking like that now.

Concerning 14th and Wabash, is that going in front of the townhouse development that has been stalled for so long? You know, the one where the developer ran out of cash and people were stuck living in partially finished units? I can't remember exactly what is there right now. LA21st, you are right, that one is a real monster; it makes the earlier ones look like masterworks.

[BVictor1]

These fuck-nuts

http://www.chicagotribune.com/news/local/chi-0703040330mar04,1,1658808.story?coll=chi-news-hed

Tug of war hits South Shore
Residents fight plan for islands in lake

By Noreen S. Ahmed-Ullah
Tribune staff reporter
Published March 4, 2007


Bob Mican remembers cool lunchtime swims just outside his front door, after sweltering shifts at the nearby USX steel plant.

His son, Rob Mican, recalls beating traffic to the Indiana dunes by taking a powerboat.

For three generations, the Micans have lived in this quiet enclave tucked along the city's South Shore. A few doors down from them is Lake Michigan, a central part of many family memories, a steadying fixture in the landscape.

And now the lake is the reason why the Micans are bristling at a suggestion that private lakefronts between 71st and 75th Streets be outflanked by public islands built into the lake.

This South Shore neighborhood was laid out as a tony suburban community after the Great Chicago Fire and was home to the Stevens family, which built the Stevens Hotel, now known as the Chicago Hilton, and the founder of the exclusive South Shore Country Club.

But white families began fleeing north and to the suburbs during the second half of the last century and the area became more rundown and overlooked.

The Micans stuck it out though. They knew that this lakefront treasure one day would recapture the spotlight.

In recent years new families--white and black--have rediscovered the neighborhood and are now investing in properties. Three flats just west of South Shore Drive are being converted into condos, as buyers seek out one of the last affordable stretches of privately owned lakefront.

But, the possibilities along South Shore have also captured the imagination of Friends of the Parks. In its effort to complete public access to the lakeshore, the park advocacy group recently floated an ambitious proposal that calls for this stretch of lakeshore to be remade with an offshore archipelago connected by bridges.

The proposal calls for building parkland islands into the lake from 71st to 75th Streets, allowing the lakefront bike path to skirt the private land of South Shore and continue south.

Residents such as the Micans say the islands would create a lagoon at their doorstep, replacing the lake with a pond. The ensuing loss of wave action will leave the water choked with weeds.

The water, they say, would become unclean for swimming, too shallow for boats. The quiet streets would be flooded with traffic. And what of the vistas of the lake stretching out to a never-ending horizon?

"There would be no view," said Bob Mican, 77, whose back kitchen window looks onto the lake. "The lake effectively would be moved 700 feet from where we are."

Friends of the Parks tried to put together the proposal in time for the centennial anniversary of Daniel Burnham's 1909 Plan of Chicago, which advocated an entirely public lakefront. The proposal currently has no funding or political backing, but supporters hoped beginning a discussion eventually would lead to adding the last four miles to the city's public lakefront.

So the group focused first on the south end of the city. They met with community members, most of them near the USX steel mill. The plan called for several measures, but since it was unveiled earlier this year the proposed islands have drawn the most outrage.



Wave of opposition

A meeting to present the plan last fall overflowed with neighborhood residents, some of whom booed the idea.

Opponents include those who live in fewer than a dozen homes just south of the South Shore Cultural Center and east of South Shore Drive, as well as those who live in condos and co-ops south of there.

Some are prominent Chicagoans such as U.S. Rep. Jesse Jackson Jr. and his wife, Sandi Jackson, the recently elected alderman of the 7th Ward. Others are middle class families who moved here for private access to the lake and for prices much more affordable than North Side neighborhoods such as Rogers Park and Edgewater.

Condo resident Tim Bartkiewicz has lived in the area for most of his life. After 10 years in Lincoln Park, he moved here more than six years ago, purchasing his three-bedroom condo for $75,000--a bargain compared with the North Side.

"You can see the lake from every window in my house except the kitchen," he said. "It's lovely."

One of the community's key organizers against the island proposal, he says people don't like the idea because it will destroy the beaches.

"By putting up islands, it's going to change the dynamic of the shoreline," Bartkiewicz said. "It won't be the pristine beach it is now."

Some residents first moved to the area as renters, falling in love with the lakefront and eventually buying homes and condos. Others spotted the area from their sailboats.

Kathleen Campbell and her husband first saw the property they purchased while sailing. When they heard through their yacht club that a house was for sale, they jumped at the chance and purchased a home that backs up to the lake. They still live about a mile away in Jackson Park Highlands, but the South Shore property is their summer home.

Campbell said new islands are the last thing the community needs. Bus shelters and better schools are more important.

"I know they have to do something with the Burnham legacy, but in this day and age, this is quite frivolous," she said. "I don't see it making a huge difference to the population down here."

Bob Mican's father had first purchased a prairie-style home, built by an associate of Frank Lloyd Wright, on the 2500 block of East 72nd Place in 1941. His father had been a supervisor at the USX site. After a short period away, Bob returned to the neighborhood in 1967 when a house next to his father's was for sale.

By then, African-Americans had begun moving into the neighborhood, said Charles Celander, author of "Chicago's South Shore." Through the 1970s the area experienced white flight, said Joy Bivins, curator at the Chicago History Museum. By 1980, the area had become 95 percent African-American, she said. The Micans were one of the few white families remaining.

"It is so beautiful here," the elder Mican said. "We never even considered moving."

Today, he and his wife live in his father's house, and son, Rob, 41, lives with his family next door, in Bob's old home. Rob's children spend summer days swimming in the lake. Friendly neighbors allow them access to the area's private beaches. The children look for rocks, adding to their extensive collection. They find the sounds of the waves crashing against the shore soothing.

But, says Rob, all that will be lost if the islands are built.

Jesse Jackson Jr. said he supports adding public access to the lakefront but is unhappy about community residents not being approached. He said he's surprised Friends of the Parks never discussed the proposal with him, even though he helped secure funds for many shoreline restoration projects along the coastline.

"Many of my neighbors made investments in a community that had long been ignored," Jackson said. "Now, there is greater interest in the area ... but to move plans forward, you need to take into account the interests of the community."



Sit-down planned

Officials from Friends of the Parks plan to meet with the congressman this month. For now, the group has added an alternative to its proposal: Do nothing.

The park advocates will continue to exhibit and lead discussions about their proposal at the Chicago Architecture Foundation and South Shore Cultural Center. Friends of the Parks is having engineers study its proposal. President Erma Tranter said the group would do nothing to harm the lake or the beaches.

She said she hopes to eventually convince residents that the islands will increase the community's property values.

"We don't want to leave a gap there," Tranter said. "The lakefront belongs to the whole city, now and for future generations."

The Micans may not own lakefront property. But they've lived so close to the lake for so long that they have always felt like this bend belonged to them and their neighbors. Rob recalled an evening a few months back when he saw the lake reflecting the full moon as he walked home from the train station.

"It was like this huge glowing ball, and the small waves back and forth were reflecting the moonlight," he said. "It was like a painting come to life. If this proposal goes through, I won't have that."

----------

nahmed@tribune.com

[BorisMolotov]

"It was like this huge glowing ball, and the small waves back and forth were reflecting the moonlight," he said. "It was like a painting come to life. If this proposal goes through, I won't have that."

Awww.... How 'bout sharing with the rest of us!

[wrabbit]

Here are the South Shore lakefront plans in question, from FOTP's website: http://www.fotp.org/

http://i4.photobucket.com/albums/y150/wjcordier/boards.jpg
http://i4.photobucket.com/albums/y150/wjcordier/boards2.jpg
http://i4.photobucket.com/albums/y150/wjcordier/boards3.jpg
http://i4.photobucket.com/albums/y150/wjcordier/boards4.jpg

[DHamp]

As a person strongly considering moving to South Shore, I've been hoping something like this would happen, though I was hoping for Lake Shore Drive extension in addition to the more parks, beaches, and bike paths. I don't see anything that looks like LSD extention in the plans... not yet anyway -- someone tell me if I missed it. I understand why some of the local will bristle at the idea, but I think the community will benefit from letting this happen.

[SamInTheLoop]

At least they add some density to the neigbhorhood. I get REAL tired of the cookie cutter 3-4 story condos and flats going up on every damn corner.

Of course, here is the worst one of all.
14th and Wabash. 1 commerial retail space.

http://www.devadevelopment.com/Our_Properties/1426-1440_S_Wabash/Images/rendering.gif

:yuck: :shrug: :koko: :rolleyes: :(

WHY?


I really hope this is some sort of sick twisted joke...

[SamInTheLoop]

I haven't noticed anyone talking about the British School of Chicago which is currently under construction on Halsted Street. . . the steel is getting up there as I drove by it yesterday. . . starting to make an impression on that deserted strip. . .

http://www.britishschoolchicago.org/site/files/469/35741/138846/192506/may_4th_parent_meeting_rev050306.pdf


I'm surprised this isn't making more noise as well - especially because of the design by VDT and the fact that it's part of an even larger 3-building development...

[honte]

LSD extension would be a terrible idea, IMO. I used to live a few blocks from here. The traffic moves freely and there really isn't a good reason to tear up that lovely neighborhood.

The park islands are great, but I think the owners' concerns are legitimate. There is something very special about this area, not just for residents - I still enjoy going back over to South Shore. I was expecting the islands would be much further from the Shoreline. I think if they swung them out further, the opposition wouldn't be there as much.

[BorisMolotov]

Well I don't think they can go too far out - Then they'd run into Indiana's portion of the lake.

[DHamp]

LSD extension would be a terrible idea, IMO. I used to live a few blocks from here. The traffic moves freely and there really isn't a good reason to tear up that lovely neighborhood.

Oh, no. I didn't mean that LSD should tear into the neighborhoods -- that would be awful! In my mind, the extension skips along the landfill islands like the bike path. But that still might be too much effort for not enough results.

[LA21st]

River House in Albany Park. 4835 N. Sacramento (Lawerence)

http://www.sussexandreilly.net/images/riverpark_main.jpg

[SamInTheLoop]

In the Tribune real estate section today - check out the large MCL Cos ad. There is a rendering of this residential loft adaptive re-use. I do not like it at all!! It appears that they are adding a couple stories to the building. I'm agreeing with SOAR on this one - they came out early as staunchly opposed to this project (albeit I believe for reasons other than its design). What are other people thinking about this??

[honte]

^ Oh brother. I wish that building were landmarked. I wish SOAR would get in gear with the preservation movement and push for some local landmarks in their area before everything gets torn down / torn up. They actually did include preservation as a focus in their recent neighborhood agenda, but I can't recall any very vocal action by them in this vein similar to their anti-highrise stuff. Perhaps the Athletic Club...

Oh, no. I didn't mean that LSD should tear into the neighborhoods -- that would be awful! In my mind, the extension skips along the landfill islands like the bike path. But that still might be too much effort for not enough results.

OK, sorry, I get it. Yeah, it would be cool to have LSD out in the lake for some breezes and good views, but I can't think of a good way to make that happen without mucking everything else up.

[SamInTheLoop]

I spoke with a Thrush rep. recently regarding their Brininstool & Lynch-designed midrise project planned for the West Loop at Madison and Racine. Although she wasn't quite this explicit, I have a strong inclination following the conversation that Thrush is shelving this development...

[the urban politician]

http://www.nearwestgazette.com/Archive/0307/Newsstorypcs0307.htm
Old meets new at Groomes Building in West Haven

The Groomes Building in West Haven has become "where the old meets new," thanks to a rehab project that has transformed it into a residential structure featuring 26 condominiums.

http://www.nearwestgazette.com/image/0307/Newsst25.jpg

Located at 2120-24 W. Washington Blvd., the upgraded building was designed to be both luxurious and affordable. Workers restored its original limestone façade and ornamental details to their original splendor while giving the interiors a new construction look and feel.

Two-bedroom, two-bath units start at $199,000, and one-bedroom, one-bath condos start at $169,000. Outdoor secured parking spaces cost $15,000 each.

The building offers an elevator and professionally landscaped exterior, and each unit on the second floor and above has a balcony. All units come with large energy efficient windows and doors, individually controlled heating and air conditioning systems, and washer and dryer hookups.

Kitchens feature a GE refrigerator, dishwasher, self-cleaning gas range, and microwave. A double-bowl stainless steel sink, a garbage disposal, chrome faucets, granite countertops, and smoke and carbon monoxide detectors also are standard, and buyers can choose among various 42-inch cabinet styles.

Bathrooms have ceramic floor and wall tile, a large soaking tub, white matte solid surface vanity tops, a vanity, and chrome fixtures.

Bedrooms feature wall-to-wall carpeting, ceiling fans, and vinyl clad shelving in closets.

Hardwood floors can be found in living areas, hallways, and the foyer. Units also feature cable television/high-speed internet outlets and pre-wired telephone jacks.

The Groomes Building is marketed exclusively by D'Aprile Realty, 1732 W. Hubbard St., Suite 1C, Chicago, IL 60622. For information, contact Jon Neff, Jeff Azuse, or Claudia Weems at (312) 492-7900 or log on to www.daprilerealty.com


http://www.nearwestgazette.com/Archive/0307/Newsstorya0307.htm
Renaissance 2010 plan brings new charter high school to West Town

By Ivette Sandoval
The Chicago Public Schools (CPS) recently approved a plan to open 17 new schools in the 2007-08 school year, including two in the Noble Network of Charter Schools—Superior Avenue College Prep in West Town and Rowe-Clark Math & Science Academy in West Humboldt Park. This wave of school openings is part of CPS’s Renaissance 2010 plan, which started in 2000 and has three years left to reach its goal of creating 100 new city schools.

http://www.nearwestgazette.com/image/0307/Newsst1.jpg

The Noble Network already operates three other charter schools that have posted good results. In the 2005-06 school year, the Noble Street College Prep campus was one of seven Chicago high schools to achieve Adequate Yearly Progress status, according to No Child Left Behind guidelines. The school maintained a 95% attendance rate, and 91% of seniors attended college after graduating.

Superior Avenue College Prep will be located at 1460 W. Superior St. in a building that formerly housed Holy Innocents School and has been vacant since the Catholic school closed. This fall, the new school will admit 145 freshmen; it will add one grade level each year until this year’s freshmen reach 12th grade.

Noble began operating schools in 1999. Said Michael Milkie, superintendent for Noble Network of Charter Schools, “These new campuses are close to our other campuses, and we have about 1,300 families on a waiting list, so the demand is great.”

“Families feel that this is a good option for their kids and they’re always looking for better options,” Milkie went on. “Generally speaking, they’re looking for safety and quality, not overpopulation.”

Noble follows a model that includes rigorous standards and discipline, student culture and respect, strong back office support, and faculty and administrative excellence and dedication.

“From administrators down to teaching staff to office personnel, I am confident that the people assembled here all pull their weight and do it because they believe in a better education for kids in the city,” said Ross Hunefield, an 11th grade math teacher at one of the Noble schools.

Hunefield explained the culture of respect and learning is reinforced consistently. He feels students are better prepared for college when they graduate from a Noble Charter High School. “I think their academics are more rigorous than in other options, and I think they have learned better social and work skills that enable them to function independently at the next level,” he said.

Classes average 18 students, which is smaller than at other schools and allows more individualized attention. In the two new high schools, college prep classes will prepare students for college; they also will focus on health and fitness, and all students must pass an annual fitness test to be promoted.

Noble’s curriculum is similar to the traditional CPS curriculum, except that Noble Charter Schools have a longer school year.

Both Superior Avenue College Prep and Rowe-Clark Math & Science Academy will open Monday, Aug. 20, 2007. On Feb. 12, Noble held a lottery to admit students because applications to attend the school exceeded open slots. The first 150 will be offered enrollment, with the rest put on a waiting list for Noble Street College Prep. For additional information visit


http://www.nearwestgazette.com/Archive/0307/Newsstoryj0307.htm
Residential boom underway in West Haven community
By Amy Rothblatt

The area surrounding and west of the United Center has exploded with residential development. In West Haven, West Haven Park, East Garfield Park, Tri-Taylor, and West Village, new townhouses, condos, duplex condos, and single family houses abound.

The boom is remarkable because, as recently as five years ago, much of the area was vacant land. One factor contributing to the change is the Home Start Program, begun several years ago by Mayor Richard M. Daley and the City's Department of Housing to entice developers to buy vacant, City-owned land to create mixed developments of affordable and market value housing. Such joint ventures allow developers to purchase land at market value but not actually pay the City for it until their new housing is built, sold, and closed.

http://www.nearwestgazette.com/image/0307/Newsst15.jpg

Under the program, 20% of units must be designated affordable to help meet the City’s goals of using land optimally, creating mixed-income environments that promote diversity, and transforming underdeveloped areas into established neighborhoods with a sense of community. The program also specifies a mix of housing styles and pricing to promote diversity of age, race, gender, and ethnicity.

West Village Homes by New West Realty is a Home Start development consisting of 84 affordable and market-rate units, including simplex and duplex (or one- and two-level) condos and townhouse. Located in part along the 2100 block of west Madison Street, where the sales center can be found as well, the project also is "clustered from the 2300 block of Madison to the 2500 block of Flournoy," said New West's Ted Mazola. "We've only got about ten of them left, and at least 50 are occupied," stated Mazola. "In the next few months they will all be occupied."

The second phase of this development, Heritage Homes of West Village, will span four blocks along Kedzie Avenue from Flournoy to Taylor Streets. "We're just calling the area West Village," Mazola said, referring to the area west of West Haven and the Tri-Taylor neighborhoods.

Steve Barton, a member of the sales team, described the affordable housing program’s importance to the area. "It is designed to get people into a home who might not otherwise have the opportunity because of income and to also actually keep people in the community," he said.



Affordable housing

The City of Chicago Affordable Housing Program is based on income and the number of people in a household. Those interested must submit an application, which the City reviews, after which “the applicants are notified if they are eligible," Barton said. "They say it takes six to eight weeks, but it usually takes about two to three weeks."

Mazola said he always believed in "giving back to the communities, especially those that may be overlooked and underserved. The West Village Homes will provide important infill housing in communities that have started to develop but have been held back somewhat because of an abundance of vacant City-owned land."

The project’s architectural design harmonizes with the area’s turn-of-the-century look, Mazola noted, to help alleviate some longtime residents’ concerns that the neighborhood’s feel will change and its history could be lost with current residential development.

According to Diane Jones, former president of the Madison-Western Chamber of Commerce, "The older residents who have been living in the area for years are opposed to the new condos coming into the area because they feel that they are being pushed out by the new residential development, that they [developers] are not trying to blend them in, and that [newer residents] don't want to associate with the people who have been there for so long and know the community. Some of the new residents coming in are buying these new condos as an investment; they were told their property values would go up in the next five years, and they want to see that happen."

Monica Brown, a homemaker and West Haven resident for the last two years who became frustrated by the area’s lack of good elementary schools, became active in the community and attended regular local get-togethers, such as the Roadmap and Near West Side Community Development Corp. (NWSCDC) meetings.

The Roadmap program consists of a planning and consulting team headed by the University of Illinois at Chicago (UIC) Design Center, whose members work actively with the community and schedule monthly meetings to get residents’ feedback about the residential and commercial development they would like to see in West Haven. UIC also works with the East Garfield Park Chamber of Commerce and the Madison-Western Chamber of Commerce.

The NWSCDC holds meetings to discuss planning for schools, retail and residential development, and beautification.

Brown and many other residents regularly attend both groups’ meetings because they believe "the two organizations kind of want different things to happen," she said.



Crowding and parking

"Our biggest concern on the residential side is that our neighborhood is becoming very crowded and that developers are trying to put too many condos on a lot and not give them ample parking," Brown continued. "Parking will become a big issue."

She also reported senior residents "are concerned that the integrity of the neighborhood is being compromised. They want us to be able to combine the old with the new, to maintain a historical look. They don't want to wake up one day and walk out of their houses and have everything brand-spanking new. " She claimed seniors feel "it doesn't appear that the newer generation is willing to do that, particularly the developers, [but] you can't tear everything down."

Jewel Ware, who was elected president of the Homeowners of Westtown Association three months ago, is an 11-year West Haven resident and said, "I am pleased with the development, although I'm not sure

it was planned as well as it could have been.

"Development is always good, especially in this area," she continued. "There is still a good chance that there will be success with the whole mixed-income environment or community, from the homeowners' perspective, which is where I'm speaking from."

Ware believes "the homeowners in general are pleased with having development take place," although "just in terms of looks, the appearance of the condos could blend more with the existing architecture. We know that some developers are trying to keep to the architecture of the area, and some aren't. We appreciate those developers who are being authentic and staying true to the look of the area, and I think it's important that they get some positive reinforcement."



Modern design

The townhouse development by the 2200 W. Madison Group has taken a different approach in the area west of the United Center by implementing a more modern design.

One of the project’s developers, Bill Sipowicz, said the City's Department of Housing "said that they would like to make the city more green and environmentally sound, instead of just having a concrete jungle effect." He added the City wants the area to be "more family-oriented, [and] they wanted us to build something inviting, less dense, that would have appeal for families to stay in the city. We wanted to work within the City's plan."

The development of 18 townhouses, of varying sizes and layouts, extends across 31,000 square feet of land where "normally you would find 45 to72 condo units stacked on top of each other like poker chips," Sipowicz said. "That's what most developers would do: go for the best and highest use. We've given our people the opportunity to live in a less dense environment.” The project also provides personal space outdoors, as the townhouses and third-floor condos have private roof gardens.

http://www.nearwestgazette.com/image/0307/Newsst17.jpg

The gardens feature "a very resilient plant growth, similar to grass, but it doesn't grow, so it's like a putting green," he added, noting that in landscaping terminology this is known as "zero floor. It changes color with the seasons and it gets thicker, but not higher. You don't have to haul a lawnmower up to the top level of your home."

Sipowicz noted the other units have either a private patio or balcony, and a common area includes "bike racks, picnic tables, grass, and places to sit."

Karen Williams, a former president of the Homeowners of Westtown Association who remains an active supporter and member, offered her view, saying, “I think that people are very positive about the housing and that the neighborhood has always been eclectic in terms of architectural styles. There is no one style to mimic." The neighborhood’s architecture "varies from block to block, everywhere. There are row houses on Warren Boulevard, tall buildings on Monroe, and on the 2200 block of Adams all of the greystones are so tall, and the new single family homes on Adams are much shorter, not in keeping with the same height. If you think about how the city is, about the older communities and how they were formed, you have smaller units mixed in with townhomes mixed in with single family homes.

"When Mazola came in and built one-, two-, and three-flat condos at West Village Homes, people were very excited about it,” Williams continued. “I know one family who had sold their vintage condo and moved to West Village Homes. I am very pleased with Ted Mazola and his development coming to the neighborhood. Their properties are appreciating, and it will help the neighborhood grow, sustain itself, and become a nice community.”



East Garfield-West Haven overlap

Mike Clark of Clark Construction has been developing in this overlapping area of East Garfield Park and West Haven for over a decade. Located presently at 1937 W. Fulton St., he was one of the first developers who pioneered into that area, and is involved in extensive development in the neighborhood along Washington and Warren Boulevards, as well as on Madison St., as far west as Kedzie Ave..

Bene Dituri, real estate broker and owner of Premier Real Estate Ventures, who is exclusively handling Clark's developments, explains that "the areas of West Haven and East Garfield Park are intrinsically tied together, and there is a lot of overlap between the two."

Dituri noted that developing larger unit buildings, as well as townhouses, single family homes, and conversions of existing architecture is something that Clark is actively involved in.

Clark is another developer participating in the city's affordable housing program, and is currently completing a six townhouse development at 2946-56 W. Warren Blvd.

"We sold four out of the six in the preconstruction phase," Tiduri explained. Each dwelling will be approximately 3,000 sq. ft., constructed of brick and limestone, offering full-finished basements, two-car garages, roof decks, and three bedrooms with 3.5 baths.

Another project along Warren Blvd. that Clark broke ground on last month will be a mix of affordable and market rate housing, and will consist of 30 structures: single family homes, and two-unit buildings. The land was purchased from the City, with the agreement that approximately 15 of these structures be designated to affordable housing. Its location will be between 2700 and 3200 west on Warren Blvd.

This development will be called "New Homes of East Garfield Park," and the first phase has begun.

"We have had very eclectic buyers," Tiduri explained, "and a very eclectic group has bought into our 7-unit condo new construction building at 3101 W. Washington St.. The refreshing thing is that we're seeing diversity."



'A sense of community'

Williams sees the Homeowners Association's primary role as helping people regain a sense of community. The area "has always been diverse, [with] some middle class, professionals, and working class people coexisting for years and years together,” she said. “We want to…welcome the new owners into the community and still have a sense of place, a sense of belonging and sharing, that neighborly feeling that you're not a stranger.”

She believes the association has succeeded in creating harmony in the area. “Whatever ethnicity comes to the neighborhood, soon they're interacting with each other. Old people like seeing children going to the park in their strollers, and we are hopeful that people will stay in the community, upgrade to a home from their smaller condos, once they have children. Many people that I talk to, and most of the property owners who are longtime owners within the neighborhood, are very pleased. There aren't a lot of property owners being displaced in the area; if they're moving out, it's because they want to.”

For Williams, new development gives the community housing options that never existed before. “There’s such a variety of housing stock now: new and old, condos, townhomes, single families, and rentals of various sizes,” she explained. ”That's created choice and that's what I like. It's all positive."

[Chicago2020]

Just Today I recieved a reply from the Grant Park Conservetory regarding the decking of the railroad tracks in Grant Park

''Yes there are plans to deck over some of the tracks in Grant Park. Millennium Park decked over the north end tracks. We are working on a plan for the south end that may include decking or may not. They will be decked over if we can raise the money. If we do not raise the money, they will not covered but we will add park land at the south end where the railroad beds are so large.''

[dvidler]

Just Today I recieved a reply from the Grant Park Conservetory regarding the decking of the railroad tracks in Grant Park

''Yes there are plans to deck over some of the tracks in Grant Park. Millennium Park decked over the north end tracks. We are working on a plan for the south end that may include decking or may not. They will be decked over if we can raise the money. If we do not raise the money, they will not covered but we will add park land at the south end where the railroad beds are so large.''

I wonder what the estimation is on the cost. I am sure it would be much less than what MP cost. I am estimating between 75 million

[VivaLFuego]

From the Tribune:

Crews tear down `endangered' home

Published March 6, 2007


Crews have demolished a Park Ridge house designed by noted Chicago architect Barry Byrne and included last week on a statewide list of endangered historic structures.

The home, in the 500 block of Cedar Street, was razed Monday, preservationists said. It was one of five houses Byrne built in 1923 in a cul-de-sac called Cedar Court. Byrne is regarded as an innovative early- and mid-20th Century Prairie School architect who once worked for Frank Lloyd Wright.

The planned demolition had riled historic preservationists who have urged Park Ridge to adopt an ordinance protecting such buildings. Landmarks Illinois had included the cul-de-sac on its list of 10 most endangered Illinois places.

Judy Barclay, a candidate for alderman in Park Ridge and a member of Citizens United to Retain Residential Balance, which has lobbied for a preservation ordinance, said she drove by during the demolition.

"It is a sad thing to see a part of history laying in rubble and you can't retrieve it," Barclay said. "It's gone."

[trvlr70]

Just Today I recieved a reply from the Grant Park Conservetory regarding the decking of the railroad tracks in Grant Park

''Yes there are plans to deck over some of the tracks in Grant Park. Millennium Park decked over the north end tracks. We are working on a plan for the south end that may include decking or may not. They will be decked over if we can raise the money. If we do not raise the money, they will not covered but we will add park land at the south end where the railroad beds are so large.''

I hope this comes to fruition. The tracks are such an eyesore and make the park completely disjointed. I'm amazed that they have been left uncovered for so long as it is. I don't want Grant Park to resemble NYC's Central Park, because the original design is more formal than natural, but just green fields would be a real improvement.

[SamInTheLoop]

I wonder what the estimation is on the cost. I am sure it would be much less than what MP cost. I am estimating between 75 million



Whatever the cost it will be much more than the conservatory alone will be able to raise...

[SamInTheLoop]

Just an open question: has anyone heard anything recently about this project? It's been stalled for quite some time due to a lack of funds. I'd really hate to see it stuck in limbo for years...

[ardecila]

Well, it will be much cheaper without all the extras MP included. The costs add up fast for a renovated train station, renovated garage, huge Gehry bandshell, shiny bean-shaped sculpture, ice rink, peristyle, Gehry sculpture/bridge, neon fountain, etc.

Here in south Grant Park, we just want to deck over the tracks. Of course, NYC (Robert Moses) did 4 miles of this in Riverside Park, and it cost $100 million even in 1930. I can't imagine the cost today.

[SamInTheLoop]

I forget if this is the name of it (the historic building with the smokestack at Lake and I believe Clinton - but I walked by this morning. It looks beautiful - I think Structured Development did a fabulous job with this adaptive re-use. I'm looking forward to big (and high-quality) things from this developer, as they seem to be really expanding - they have the large development in the North/Clybourn area anchored by The British School, and I believe they have other big plans south of there as well...

[SamInTheLoop]

(edit - actually its MetraMarket I think) This adaptive re-use in the West Loop is seemingly taking forever to get moving - I can only assume the developer has taken a long time to line up financing....and it's not even that expensive of a project - I've seen total estimates of under $50 million. I think the developer is US Equities, which is a real estate services firm (I'm not sure how much overall experience they have as a true developer)...

[honte]

I forget if this is the name of it (the historic building with the smokestack at Lake and I believe Clinton - but I walked by this morning. It looks beautiful - I think Structured Development did a fabulous job with this adaptive re-use. I'm looking forward to big (and high-quality) things from this developer, as they seem to be really expanding - they have the large development in the North/Clybourn area anchored by The British School, and I believe they have other big plans south of there as well...

Yeah, it's simply called the Northwestern Powerhouse, after the train tracks and old station. It looks phenomenal. You should also hand it to the city's Landmarks Commission for actually landmarking this thing, resulting in the high-quality of craftsmanship, and preservationists (I know Preservation Chicago had been nominating this as a landmark for several years).

Structured has the land under the existing New City YMCA, no? So, I think we might see something pretty great there. I love the combination of top-notch renovation projects and progressive new architecture. My only complaint is that some of the buildings on the British School site were pretty interesting and could have been reused in a creative fashion.

[ih8spires]

Just an open question: has anyone heard anything recently about this project? It's been stalled for quite some time due to a lack of funds. I'd really hate to see it stuck in limbo for years...

I would also like to know about the broadcast museum. To add another question, does anyone have any information on the status of the "river walk?'

[the urban politician]

http://www.chicagotribune.com/business/chi-0703110084mar11,0,7275357.story?coll=chi-business-hed
Youth serves a central role
As a growing number of young professionals make their homes in and around downtown Chicago, companies are setting up shop or expanding operations there to take advantage of the workers' skills and cre

By Susan Diesenhouse
Tribune staff reporter
Published March 11, 2007


As thousands of Chicagoans leave the city each year, a countervailing force is moving in: twentysomethings, whose growing presence in and near the city's center is attracting companies to start or expand operations downtown.

Kenneth Johnson, a demographer and sociology professor at Loyola University Chicago who has studied the trend, estimates Chicago's twentysomething population at 450,000, surpassed only by New York and Los Angeles, which also are experiencing influxes of new college grads.

The young newcomers, Johnson said, hail from the suburbs as well as cities such as Philadelphia, Detroit and Cleveland.

"Companies are finding that the key asset is no longer the highway interchange, coal vein or port," said Richard Florida, a professor of urban policy at George Mason University. "Now, it's this educated, skilled, innovative talent. Companies are moving to be near the kind of people that Chicago is attracting in droves."

Not long ago, companies routinely were abandoning cities to be near suburban transportation hubs, office parks and natural resources. Once a business came to town, its hiring acted as a magnet for more workers to move in, drawing younger people from the core cities.

Now, companies are chasing the skills and creativity of youthful workers who increasingly are gravitating toward cities replete with clubs, restaurants, museums and natural draws such as Lake Michigan, said Florida.

"The city that gets them after college is a big winner because people are likely to stay in the same metropolitan region over time," said Florida. He said people make three big moves in their life: after college, when they have children and when the kids are grown.

Florida calls Chicago "one of four or five great U.S. talent magnets."

Continuing to draw younger people to the city is a key to the area's vitality. Johnson estimates that the city lost 53,000 residents since the 2000 census. That was only partly offset by the influx of the twentysomething group, the only age group to show growth. As of July 2005, Chicago's population stood at 2.84 million, he said.



Expanding times

The corporate changes are noticeable downtown, where companies ranging from small shops like Reynolds Communications Group, a public relations firm, to heavyweights like CDW Corp., a seller of computer hardware and software, and Google Inc., the Internet search-engine firm, are expanding.

"We go where the talent is so they live can where they want," said Sunny Gettinger, a spokeswoman for Google. Many of the company's new hires are in their 20s or 30s, she said, "going all the way up to 39."

Google plans to double the space it moved into a year ago at 20 W. Kinzie St. By this summer, its staff of 100, as well as the dozens more it plans to hire, will occupy a total of 48,000 square feet.

"Chicago is a hidden gem," declared Caliah Manson, 34, an account manager at Google who relocated to Chicago two years ago from San Diego, her hometown. Her commute in California used to consume three hours a day.

"Now, I don't have a car, but I have a life," said Manson, who has an MBA from Cambridge University and is like a real-life advertisement for downtown Chicago, winter weather be damned.

"It's affordable," she said. "I live downtown and walk to everything I want: Michigan Avenue shopping, parks, museums. Most important, it has more sophisticated professional opportunities."

Manson also likes Google's atmosphere. Its white-walled offices are known for their primary-colored balloons and bean bag and ball seating.

In January, Vernon Hills-based CDW expanded its downtown Chicago office at 120 S. Riverside Plaza by 36,000 square feet, to a total of 216,000 square feet, as it plans to hire between 350 and 400 employees in the coming months and further expand. It currently employs about 1,100 people downtown.

"We want to be near the people we hire," said Doug Eckrote, a CDW vice president. "A good chunk will be kids right out of school and newly marrieds, most without children.

One of them is Mike McKane, 33, a Wisconsin native who originally settled in Washington, D.C.

As his 29th birthday approached, he and his wife decided to leave that city and launched a systematic search, visiting several cities to look for a new home where they intend to live for the next 20 years.

"Chicago is a true urban environment, with mass transit, a good theater community and lakefront, but it's not overwhelming," McKane said. "I can't get over how clean it is, and it's refreshing to run into people who are so nice."

Once he and his wife decided on Chicago, he went looking for work. One lure of CDW, McKane said, was that "they were hiring for downtown."

Now he lives in a River North high-rise, walking distance from his West Loop office.

"I never thought I would, but I sold my car," McKane said.

Other companies also are moving downtown, lured by its young population.

"It became apparent that to attract the best and brightest, we had to be downtown where the talent pool is larger," said Mack Reynolds, owner of Reynolds Communications.

That meant moving Reynolds a year ago from the Skokie area, where it had been based for 18 years, to 230 W. Monroe St. in the West Loop and growing the staff to 12, a 50 percent expansion.

In recent years, even old-line stalwarts like Sears are establishing downtown innovation centers.

Sears is hiring about 100 technical architects, Web developers and project managers for an e-commerce development operation it plans to open this spring on the fourth floor of its State Street department store, said spokesman Chris Braithwaite.

"Many of them will have three to five years' work experience," he said. "Our recruiting has been helped by our downtown location and proximity to colleges."

Loyola, Illinois Institute of Technology, DePaul University, University of Chicago and the University of Illinois at Chicago are just some that have facilities downtown.



Fulfilling a dream

There are also people who plan to move downtown to be closer to their jobs, such as 24-year-old Matt Kiley.

Kiley, who grew up in Arlington Heights, moved to Chicago's Lakeview neighborhood after graduating from college with a computer science degree. Finding a job was easy, he said.

"Once I started looking, it was more like I was interviewing them," Kiley said of Spring CM, an information technology firm at 350 N. Orleans St., where he works as a support engineer.

Jeffrey Piper, vice president at Spring CM, said a lot of the workers are like Kiley--in their 20s and 30s. The majority live downtown, and in a company with 100 people, Piper said, "No one drives regularly."

In September Kiley hopes to join that crowd. He will start hunting for a loft in the South Loop.

"They're new, and I like the space," he said. "I want to walk to work.

"Everyone I know who isn't downtown, including my 26-year-old sister in Arlington Heights, is looking to get here."

Moving downtown will be the fulfillment of a dream.

Kiley recalls as a kid riding along Lake Shore Drive and thinking, "I want to work in the Loop with the high rises, the awesome architecture.

"Downtown, you can go out every night and meet people."

- - -

Drawing people downtown

-Google Inc. of Mountain View, Calif., plans to double its space at 20 W. Kinzie St. and add to its staff of 100.

-Vernon Hills-based CDW Corp. expanded its space at 120 S. Riverside Plaza by 36,000 square feet and plans to employ as many as 400 more people.

-Sears hopes to attract 100 people for an e-commerce development operation at its State Street department store in the Loop.

-Reynolds Communications Group moved to the West Loop from Skokie and boosted its staff by 50 percent, to 12.

[BVictor1]

^Great article

[VivaLFuego]

^ Yeah that's cool. Kind of obnoxious about Sears, who moved out of their namesake landmark tower to a monstrosity in the exurbs...

[Tom In Chicago]

Took some photos today. . .

The British School of Chicago
http://www.pbase.com/temper/image/75512964.jpg

http://www.pbase.com/temper/image/75512966.jpg

http://www.pbase.com/temper/image/75512967.jpg

Near North SRO
http://www.pbase.com/temper/image/75512968.jpg

http://www.pbase.com/temper/image/75512969.jpg

http://www.pbase.com/temper/image/75512970.jpg

http://www.pbase.com/temper/image/75512971.jpg

http://www.pbase.com/temper/image/75512973.jpg

http://www.pbase.com/temper/image/75512974.jpg

[honte]

^ Great, thanks!

[budman]

I would also like to know about the broadcast museum. To add another question, does anyone have any information on the status of the "river walk?'
^My understanding is that they are $8 million short, and that they are trying to raise the money by selling the naming rights. So far, I believe they have no takers.

[Patel]

Holey crap that thing looks like a giant metra car. I ab fab love it.

Took some photos today. . .



Near North SRO
http://www.pbase.com/temper/image/75512968.jpg

http://www.pbase.com/temper/image/75512969.jpg

http://www.pbase.com/temper/image/75512970.jpg

http://www.pbase.com/temper/image/75512971.jpg
]

Can we hook up about 10 of these things and make them move.


:) :banana: :cool:

[SamInTheLoop]

^My understanding is that they are $8 million short, and that they are trying to raise the money by selling the naming rights. So far, I believe they have no takers.

That's just a very sad situation....it's too bad...I know at one point the museum was essentially claiming that the state was screwing them with an unfulfilled promise of millions....does anybody know that story?

[SamInTheLoop]

Great photos Tom - thanks. It's nice to get a glimpse of some of the high-quality low-rise projects going up around downtown...

[SamInTheLoop]

Thanks for posting that article urb. What always cracks me up are the people who actually buy the census bureau's estimates (in between the decennial census) for Chicago. The bureau is horrendous at estimating population in gentrifying urban areas in between the actual official census - this was proved over and over again during the 90's, when they continually estimated a declining population for Chicago. And what happened come the real count in 2000? To the surprise of no one who actually lives in Chicago and follows these trends, the city had experienced a significant increase in population over the decade. Now, every 2 years since 2000, the census bureau has estimated a declining population in Chicago. Guess what will happen again in 2010? That's right, they will again look like fools as the city probably will pick up 100,000 or 150,000 people again. IMO they know their estimation methodology is severely flawed, but instead of actually fixing it, what they do is try to justify their low-ball estimates with trends that are at least partially true - they'll say that immigrants are moving directly to the suburbs, lower income families are moving to inner suburbs, new migrants to the city are smaller households, ie empty nesters, etc. These are trends that are happening to some degree, no doubt, but they are more than offset by the number of young professionals that are moving to the city in droves, still-high levels of immigrants moving to the city directly from their home countries, etc. The city's housing construction boom is by no means confined to downtown and near downtown areas - as we all know it is being seen in neighborhood after neighborhood of varying price points including all of the new mixed income communities being built from scratch. I guarantee, net-net, at the end of the decade, there is no way whatsoever that the city's population will have declined - this will be borne out by the actual official count, which unfortunately imo is just about all the census bureau is good for in gentrifying urban areas...

[denizen467]

Would rather have not heard this news (a lot of these 'advantages' describe Chicago as well), but maybe we'll have the last laugh if Bank of America or Citibank gobbles them up and leaves alone LaSalle and Harris.


GlobeSt.com Last updated: March 6, 2007 10:19am
Comerica HQ's Dallas Bound, Exiting Detroit By Connie Gore

DALLAS-With details about the location still under wraps, Comerica Inc. has declared its intention to relocate the headquarters office from Detroit to Dallas. As part of the move, there is a new president of Comerica's Michigan market.
In this morning's press release, Comerica says it will retain a 7,300-employee workforce in southeastern Michigan, but the headquarters is going south. Local brokers, except for those on the inside, were scrambling to find out how much space and where in Dallas that Comerica plans to land.

The gist of the news is Dallas won the nod for its Central US positioning "with greater accessibility to all of its markets," the release says. The relo is penciled to be done by the end of the third quarter.

Ralph W. Babb Jr., Comerica's chairman and CEO, says the relocation is directly tied to a plan put into play three years ago to diversify and extend the financial institution's reach into high-growth markets. "Today, a significant percentage of Comerica's earnings is generated in Texas, Arizona, California and Florida," he says in the release.

Babb also says the availability of skilled employees in Dallas, Austin and Houston further underwrites the decision. Comerica's decision cites US Census Bureau stats that project two-thirds of all Americans will live in the southern and western US by 2030, with 30% choosing California, Florida and Texas. Furthermore, the International Monetary Fund ranks Texas as the 10th largest economy in the world: nearly $1 trillion in gross state product and highest growth population counts in the nation.

. . . When the shift is done, Comerica will be the largest bank holding company headquartered in Texas. As always, the state and Dallas have provided incentives to help offset relo costs.

Comerica plans to bring at least 170 jobs to the region with the move. "This announcement illustrates, once again, our region's merits as a location for corporate America," Ron Gafford, chairman of the Greater Dallas Chamber and president and CEO of Austin Industries Inc., says in a local release about the relocation win.


GlobeSt.com Commercial Real Estate News and Property Resource
Last updated: March 9, 2007 06:48am
Comerica's HQ Could Weigh In at 250,000 SF By Connie Gore
. . .
The inside source says Downtown is a must--not an option--for Comerica, which now occupies six million sf in its headquarters city of Detroit and 12 million sf in its US offices. In Dallas, Comerica leases 60,000 sf on floors one, two and four after 20 years in the 1.4-million-sf Thanksgiving Tower. . . . Comerica's decision will bring 200 corporate jobs to Dallas, the same number it plans to phase out in Michigan in the next three years.

. . .

As trite as it might sound, the deal landed in Dallas because it's in the middle of the US, with easy-to-schedule, non-stop flights to all major corporate America hubs. The insider says Comerica only considered California, Florida and Texas due to their top-growth markets.

According to Site Selection magazine, Dallas is fourth for corporate relocations in US metros with more than one million residents. The stats, which came out March 2, show the region logged 106 corporate-type projects in 2006, basing the ranking on research from affiliate, Conway Data New Plant Database, which also includes industrial moves. The Greater Dallas Chamber also doesn't isolate shifts from out-of-state corporations or industry types, but its latest count shows 400 business relocations and expansions in the market last year.

One local researcher says the deal puts Dallas on the map as a financial hub:koko: . Comerica, with $58 billion in assets, will be the largest bank headquartered in Texas when the move is done. In rolling out the red carpet, the state has ponied up $3.5 million from the Texas Enterprise Fund and the city, if the measure passes, would kick in a 10-year package valued at $500,000 in grants and incentives.

[SamInTheLoop]

Not too be a Debbie Downer, but eventually LaSalle and Harris will be sold (it's not as if they are locally owned as it is). The writing's on the wall - this is simply the nature of today's banking industry........could be next year, could be in 5 years, but they are attractive enough acquisition prospects for the majors in the industry...

[Chicago3rd]

Center on Halsted as of this Sunday:

http://wilsnodgrass.smugmug.com/photos/135358548-L.jpg
Terra Cotta facade returned:
http://wilsnodgrass.smugmug.com/photos/135359351-L.jpg

http://wilsnodgrass.smugmug.com/photos/135359924-L.jpg

[trvlr70]

^^^^^^^^^^^^
This project is awesome on so many levels...I'm a FAN.

[Chicago3rd]

Just "east" of Park View West and its craine there is another craine. Is this for the park/garage?

http://wilsnodgrass.smugmug.com/photos/135364436-L.jpg

[honte]

^ Yes. Nice shots of Center on Halsted too; thanks. It looks really great. Only complaint is the blank area behind the restored facade, but I can easily forgive them.

[Chicago3rd]

^ Yes. Nice shots of Center on Halsted too; thanks. It looks really great. Only complaint is the blank area behind the restored facade, but I can easily forgive them.

I believe that is that bad looking because the new Town Hall Police Department building will probably cover that up...I hope so.

[Pandemonious]

That's just a very sad situation....it's too bad...I know at one point the museum was essentially claiming that the state was screwing them with an unfulfilled promise of millions....does anybody know that story?

Yeah. I walk by this site almost daily, and have not seen a single sign of any activity in many many months. One good sign that nothing may happen for a while longer is that a couple of months back they removed all the perimeter fencing from overtaking the sidewalk, and that was not too long after I saw the last activity. The large glass wall facing statewas the last major thing that got done.

[trvlr70]

I'm kinda shocked that Oprah hasn't stepped in and rescued the museum. I'm sure they'd love to have her iconic image attached to the museum. I mean, she pretty much defines modern Chicago's broadcast journalism.

[Patel]

Would rather have not heard this news (a lot of these 'advantages' describe Chicago as well),

According to Site Selection magazine, Dallas is fourth for corporate relocations in US metros with more than one million residents. The stats, which came out March 2, show the region logged 106 corporate-type projects in 2006, basing the ranking on research from affiliate, Conway Data New Plant Database, which also includes industrial moves. The Greater Dallas Chamber also doesn't isolate shifts from out-of-state corporations or industry types, but its latest count shows 400 business relocations and expansions in the market last year.

.


Quess which US metro area was number one this year and 4 out of the last 5 years.:cool:

http://www.siteselection.com/issues/2007/mar/topMetros/

[SamInTheLoop]

^ Yes. Nice shots of Center on Halsted too; thanks. It looks really great. Only complaint is the blank area behind the restored facade, but I can easily forgive them.

Agree - that's one sharp-looking building...

[denizen467]

Not too be a Debbie Downer, but eventually LaSalle and Harris will be sold (it's not as if they are locally owned as it is). The writing's on the wall - this is simply the nature of today's banking industry........could be next year, could be in 5 years, but they are attractive enough acquisition prospects for the majors in the industry...
*Sigh*
Both are owned by foreign banks, and LaSalle's parent ABN Amro has a large presence in Chicago no doubt because LaSalle is located here. What I'm really worried about is that if we lose LaSalle, we might lose at least a large chunk of ABN Amro at the same time. Bank One's high-end layoffs were bad enough... this is gonna suck if it happens.

[Eventually...Chicago]

I get bummed when i here of banks moving away too. It is tough to tell yourself that we have a great financial services sector (hell, we invented futures & options) when we don't have the major bank headquarters we want.

We just have to keep telling ourselves that there is plenty of demand to keep companies here. (which is true) What i am really looking forward to are some state funds and private investors that are beginning to provide seed money to startups. My gut tells me that if we really get rolling on that, chicago will become nearly as big as a tech-center as SoCal.

[nomarandlee]

http://www.suntimes.com/news/metro/2...iver14.article

Plan looks to showcase river
Park board likely to allow cafes, galleries, etc.

March 14, 2007
BY ANDREW HERRMANN Staff Reporter

Chicago is aiming to redevelop its "second lakefront" by returning waterside restaurants and other tourist-friendly features to the downtown banks of the Chicago River.

Under the plan likely to be passed today by the Chicago Park District board, the south side of the river between Lake Street and Lake Shore Drive would be open to concessions that could include cafes, bicycle rental shops, museum space and galleries.

"The riverwalk is a unique and attractive public space, and we're seeking uses that would appeal to Chicago residents and visitors," said parks Supt. Timothy Mitchell.

The stretch, which Mayor Daley has called Chicago's "second lakefront," once offered some of those options. In 1998, four restaurants provided outdoor service between May 15 and Oct. 15, but none reached the benchmark $300,000 in sales required to trigger payments to Chicago taxpayers. Four more restaurants opened the next year.

Those options along the riverwalk all but disappeared after a Wacker Drive reconstruction project that began in 2001. Daley has envisioned a riverfront development similar to San Antonio's entertainment zone.

Under the current plan, the Chicago Park District would oversee the concessions, which would be awarded to contractors by bid.


Lining up concessionaires
Parks officials Tuesday were unable to provide revenue projections for the new effort. The aim is to open shops by this summer, a parks spokeswoman said.

Under the joint agreement with City Hall, maintenance, security and site preparation would be covered by the city, according to the plan.

Meanwhile, the city plans to open an emergency-only helicopter landing site on the northeast corner of DuSable Harbor where the river meets the lake. Neighbors had blocked city efforts to build a full-time helipad.
Contributing: Fran Spielman

[Loopy]

^What are the plans to create walkway "aprons" around each bridge abutment? The newspaper stories always completely miss the fact that it will never be a "riverwalk" if you have to climb the stairs, cross the street, then hustle down the stairs again at each bridge.

[trvlr70]

^^^^^^^^^^^^^^^
I agree here. I just wish a cohesive plan for the riverwalk would take shape.

For this reason, I'm not thrilled with the uber modern riverwalk addition that has been proposed for Illinois Center in front of the Hyatt Regency.

I prefer the large, turn of the century obelisks we have right now.

[Busy Bee]

^I'm not sure how realistic that proposal is anyway. This was brought up a few months back and I mentioned my hope that Daley would push for an extension of the historic "Burnham" Wacker Drive to LSD.

As hindsight is always 20/20, they never should have ripped out the S-Curve. It would have made Lakeshore East more difficult to develop, but the original LSD was just better urban infrastructure. Imagine LSD continuing through what is now Field Blvd. throught that canyon of skyscrapers—it would have been the only location on LSD where skyscrapers were on both sides of the drive. Just imagine the view, when the driver is forced to slow a bit, with LSE and the future Spire right at the rivers entrance. MAGNIFICENT!

[SamInTheLoop]

^^^^^^^^^^^^^^^
I agree here. I just wish a cohesive plan for the riverwalk would take shape.

For this reason, I'm not thrilled with the uber modern riverwalk addition that has been proposed for Illinois Center in front of the Hyatt Regency.

I prefer the large, turn of the century obelisks we have right now.

I actually really like that Hyatt plan. I think it fits its particular piece of the riverfront very well....

[alex1]

^^^^^^^^^^^^^^^
I agree here. I just wish a cohesive plan for the riverwalk would take shape.

For this reason, I'm not thrilled with the uber modern riverwalk addition that has been proposed for Illinois Center in front of the Hyatt Regency.

I prefer the large, turn of the century obelisks we have right now.

are you talking about the Urban Lab design? I like that!

[honte]

^ I think it was a Gensler design.

[Alliance]

I don't remember seeing a design for that, and I couldn't find it on Gensler's site. Maybe I was just blind.

[honte]

^ I think their site has very little of their actual work.

I posted photos of it from Chicago Magazine when it first came out... probably in this thread. You might be able to search for my posts and find it.

[AJphx]

but maybe we'll have the last laugh if Bank of America or Citibank gobbles them up and leaves alone LaSalle and Harris.

well... LaSalle and Harris aren't independent. They are both already owned by large foreign banks....so they werent merged with anything and who have kept their hqs in Chicago.

Not too be a Debbie Downer, but eventually LaSalle and Harris will be sold (it's not as if they are locally owned as it is).
Well the foreign banks that own them use them for their US operations, and the US is obviously a large market... so I don't see why they would want to sell them anytime soon.

[ardecila]

http://img518.imageshack.us/img518/2062/hyatt1uc4.jpg

http://img525.imageshack.us/img525/7247/hyatt3mr8.jpg

http://img525.imageshack.us/img525/4346/hyatt2yx5.jpg

Images courtesy of Spyguy (I can't say where he got them)

[SevenSevenThree]

Edit

[Alliance]

Thanks very much ardecila.

[honte]

^ Yeah, those are much more complete than the stuff I'd seen before. I wonder if this thing ever has a chance of moving beyond the concept phase?

[modkris]

delete

[SamInTheLoop]

^ Yeah, those are much more complete than the stuff I'd seen before. I wonder if this thing ever has a chance of moving beyond the concept phase?

Believe it or not, I think the Hyatt expansion is a real project...

[2PRUROCKS!]

I love that Hyatt riverwalk proposal!!!!

[i_am_hydrogen]

Rival bid for CBOT

By Greg Burns
Tribune senior correspondent
Published March 15, 2007, 10:30 AM CDT

BOCA RATON, Fla. -- The Chicago Board of Trade, which agreed last October to merge with the Chicago Mercantile Exchange, has received a competing bid from an all-electronic rival.

IntercontinentalExchange, Inc. said Thursday it has made a proposal to the board of directors of CBOT Holdings, Inc. to combine the two companies in a stock-for-stock transaction it says amounts to a 10 percent premium over the Merc's offer.

The combination would result in a futures and over-the-counter derivatives marketplace headquartered in Chicago with a strong franchise in agricultural, energy, interest rate and metals markets.

A CBOT spokeswoman declined to comment on the proposed merger Thursday morning. No immediate comment was available from the Merc.

Under terms of the transacton, ICE would issue 1.42 ICE shares for each CBOT Class A common share, valued at $187.34 per CBOT share based on Wednesday's closing price of ICE shares. This represents a 12.8% premium to CBOT's current share price, and a 39.3% premium to its share price on Oct. 16, the day before announcement of its merger agreement with the Merc, ICE said. The $187.34 per share value also represents a premium of 10.5% to the current value of the pending CME/CBOT transaction to CBOT shareholders.

CBOT shareholders would own approximately 51.5% of the combined company and, ICE said it would commit to the same terms as the Merc offer regarding preservation of Chicago's traditional open outcry trading floors. In a conference call with investors Thursday morning, ICE Chief Executive Jeffrey Sprecher said his plan would help preserve the Board of Trade's "heritage.''

Because the ICE deal does not involve a change in control, it may improve the chances of Board of Trade members retaining their rights to trade at the Chicago Board Options Exchange. The CBOE has maintained those rights would be eliminated under terms of the proposed Merc acquisition.

Board of Trade shareholders were likely to approve the merger with the Merc at a scheduled April 4 vote, but now nothing is certain, said Chris Hehmeyer, chief executive of Chicago trading firm Penson (CQ) GHCO and a longtime Board of Trade member.

"This changes everything. It throws everything into question. It appeared the shareholders were headed toward approving it."

ICE owns London's International Petroleum Exchange and operates an electronic energy marketplace, franchises that could help boost the Board of Trade's efforts to develop a contract on ethanol, the corn-based transportation fuel, Hehmeyer said.

Although ICE is considerably smaller than the Board of Trade -- "It's certainly a big fish to swallow," Hehmeyer said -- the proposed deal is substantive. "I would say it's a credible offer."

ICE proposes to enter into a transaction on terms similar to those in the current CBOT merger agreement with CME. Flexibility in the potential legal structure of the transaction exists to provide CBOT members who hold Chicago Board Options Exchange exercise rights a preferred structure to preserve these rights.

Unlike a combination of CME and CBOT, ICE said, the latest proposed deal poses no significant antitrust or other regulatory risks and a transaction could be completed quickly.

Based on publicly available information, ICE estimates transaction benefits of at least $240 million annually upon the full integration of ICE and CBOT. In addition to identified cost cuts and the revenue growth opportunities available to the combined company, ICE said it also would provide a comprehensive clearing system. The Board of Trade's clearing deal with the Merc is set to end in January 2009.

Accordingly, ICE believes the combination would benefit earnings per share within 18 months of closing. With access to CBOT and its management, ICE expects to identify additional opportunities for the combined company.

"This is an extremely compelling combination for Chicago Board of Trade and IntercontinentalExchange shareholders, trading members, customers, clearing firms, employees, the derivatives industry and the City of Chicago," said Jeffrey C. Sprecher, Chairman and CEO of ICE. "The CBOT Board of Directors has the opportunity to achieve a transaction that offers a considerable premium to the pending CME transaction and, at the same time, secures the CBOT's position as a leading independent global derivatives complex based in Chicago."

IntercontinentalExchange, Inc. operates as an electronic global futures and over-the-counter marketplace, strongest in energy products. On Jan. 12, 2007, IntercontinentalExchange acquired NYBOT, the New York Board of Trade.


Copyright © 2007, Chicago Tribune


*******

Merc faces prospect of bidding war

By Susan Diesenhouse
Tribune staff reporter
Published March 15, 2007, 10:13 PM CDT

The Chicago Mercantile Exchange was knocked for a loop Thursday when a rival suitor made a higher offer for the Chicago Board of Trade, but industry observers say the Merc still will have plenty of muscle to flex even if it loses what could be a protracted bidding war.

Already the nation's largest futures exchange, the Merc was counting on its long-planned merger with the CBOT to cement its global dominance. But what the Merc, and stunned industry observers, weren't counting on was a bid from the upstart IntercontinentalExchange Inc.

ICE, founded seven years ago as an electronic energy-futures market, offered an estimated $9.9 billion in stock to combine with the CBOT as a minority partner. In October, the Merc agreed to pay about $8.96 billion in stock and cash to become a majority partner in a merged company.

The Merc's only comment was a written statement that said in part, "We are working toward the successful completion of our transaction."

The CBOT also seemed surprised by its new-found popularity. It hastily canceled a Thursday morning press conference at an industry gathering in Boca Raton, Fla. A CBOT spokeswoman declined to comment.

But ICE has certainly heated up the competition.

"Having ICE in the picture changes the entire complexion of the deal," said Phillip Flynn, energy analyst at Alaron Trading Corp. in Chicago. "Don't underestimate them. ICE has become very aggressive, making major waves in the futures industry."

Now the Merc is likely to become party to a bidding war.

"Clearly, the markets are telling [the Merc] that it will have to pay more for the CBOT," said James Angel, a professor of finance at Georgetown University. "Board of Trade shares are up, while the other two exchanges are down."

CBOT shares jumped $28.86, or more than 17 percent, to $194.95. Merc stock closed at $532.88, down $31.09, or 5.5 percent. Shares of ICE sank $3.83, or 2.9 percent, to $128.10.

Angel said the Merc probably will fight for the CBOT.

"If the Merc gets the Board of Trade, it will be the biggest exchange in the world," Angel said. "Such a dominant position is worth paying for. The question is, how much?"

Merc and CBOT leaders entered serious talks last summer, and the merger had seemed like a done deal since they announced an agreement in October.

For instance, at this week's conference in Florida the names of the Merc and the CBOT both appear on placards announcing events they are co-sponsoring, one attendee said.

"Everyone assumed the merger would sail through, but that's no longer the case," said Octavio Marenzi, chief executive of Celent LLC, a Boston-based financial research consultant. "Now, there's likely to be a bidding war, a drama that could last weeks or months."

On April 4, Board of Trade shareholders are scheduled to vote on whether they want to be a minority partner with the larger Merc. Now, they also must consider if they prefer to be a majority partner with the smaller but quite profitable ICE.

If the Merc loses the CBOT deal, Marenzi said, "it's a negative, but its business is rock solid. It has a strong franchise and operating model."

Some said that might not be a bad option for those in the industry who had concerns that a mega-Chicago exchange could stifle competition.

"I'm sure federal authorities would like to see more rivalry with the [the Merc]," said Flynn.

The Department of Justice has been scrutinizing the Merc-CBOT merger, said Craig Pirrong, a professor of finance at the University of Houston.

"No one knows which way the DOJ lawyers will jump," said Pirrong, who expects a decision before the CBOT shareholder vote. "But their decision will impact how the industry structure evolves going forward."

Pirrong added, "ICE is putting itself in the game in case the DOJ puts up some obstacles."

Should the Merc plan fall apart, said Angel, "the historic rivalry between the two Chicago exchanges could intensify."

But the Merc probably won't sulk for long, said Patrick O'Shaughnessy, an equity analyst with Morningstar Inc.

The Merc "wants to be a driver in this consolidating industry, so they won't rest on their heels," he said. "CME will stay on a growth path, although they may not be as big."

It will combine with another exchange or financial entity, O'Shaughnessy added.

"They may look toward Nymex since they already have a working relationship," he said.

The New York Mercantile Exchange now trades its energy contracts on the Merc's Globex system.

But if the Merc boosts its offer, "we don't think the CBOT will walk away," O'Shaughnessy said. "They're comfortable with each other, and their minds have been headed along the same path, preparing a future together."

sdiesenhouse@tribune.com

[alex1]

.

[alex1]

so, is this a good deal for chicago?

I'd imagine that if an out of town exchange gobbles up CBOT and moves their headquarters to chicago, it leaves the Merc with a ton of cash to buy another exchange. Or am i missing something that's bigger?

also, anyone have a good list of world financial centers (with growth rates)? I would imagine the top 5 are currently London, nY, Tokyo, hong Kong and Chicago.

[Patel]

http://www.belleville.com/mld/belleville/news/state/16919003.htm

Analysts: Chicago Merc still front-runner for BOT despite new bid

DAVE CARPENTER

Associated Press
CHICAGO - As Chicago Board of Trade executives on Friday studied a $10 billion buyout offer from an Atlanta electronic exchange, some analysts said the bid may be too late to derail a merger creating an all-Chicago titan in the financial derivatives industry.

The prevailing view on Wall Street appears to be that the Chicago Mercantile Exchange's parent likely will have to raise its $8 billion bid in order to preserve its pending acquisition, however.

Both parties in the proposed pairing of Chicago exchanges - CBOT Holdings Inc. and Chicago Mercantile Exchange Holdings Inc. - again refrained from commenting Friday on the unsolicited bid by electronic futures market IntercontinentalExchange Inc.

But in an indication any bidding war isn't expected to be prolonged, CBOT said it has no plans to delay the April 4 vote by its shareholders on the Merc transaction.

Absent any new offers or developments to stoke the buyout fever, shares of CBOT fell $5.79, or 3 percent, to $189.16 in afternoon trading on the New York Stock Exchange, giving back some of the previous day's 17 percent runup. ICE shares moved lower for a second session, declining $1.93 to $126.17, and Merc shares were off $6.87 at $526.01.

ICE, a seven-year-old exchange, caught both venerable Chicago exchanges by surprise Thursday morning with its unexpected bid. Jeffrey Sprecher, its chairman and chief executive, said the offer not only is superior monetarily but offers greater assurance it would win approval from regulators.

CBOT said it would have no response until its board of directors and other executives reviewed the proposal thoroughly.

Analyst Richard Repetto was among those saying CME appears to remain the front-runner to acquire the crosstown Board of Trade, although he said the transaction ultimately could be decided on antitrust issues.

"While ICE's bid might cause CME to improve the terms of its merger proposal with BOT, we continue to believe that CME will close the acquisition as planned in mid-2007," the Sandler O'Neill & Partners analyst wrote in a research report.

Michael Vinciquerra of Raymond James & Associates said the timing of ICE's proposal is problematic, since the BOT and the Merc already have completed months' worth of planning and pre-merger integration work since agreeing to merge last October.

"The transaction itself makes a lot of strategic sense, but it strikes us as being a little too late," he said in a note to investors. "We're not certain that the premium being offered by the ICE is attractive enough for all CBOT's employees and members to want to go through this process again."

He and other observers, however, think a sweetener from the Merc is probably necessary.

"We expect it will be challenging for the CBOT board not to push back on the CME for a higher offer or to open discussions with the ICE," Niamh Alexander of CIBC World Markets wrote in a research report.

ON THE NET

http://www.theice.com

http://www.cbot.com

http://www.cme.com

[Via Chicago]

My question is, even if the CBOT and Merc merge, will the DOJ allow it to go through?

[brian_b]

My question is, even if the CBOT and Merc merge, will the DOJ allow it to go through?

It looks like they will put up a fight, but I don't know how successful they'll be. If anything, this ICE proposal shows how low the barrier to entry in this industry is. They started in 2000 to go up against Enron and now 7 years later they are in the position to buy up CBOT? Sounds like competition can spring up extremely quickly in the event the merged CME/CBOT tries to gouge customers.

[the urban politician]

My question is, even if the CBOT and Merc merge, will the DOJ allow it to go through?

^ I wonder that as well. It sounds like it's not so much the merger, but the Clearing division that is in contention.

[laro3]

if the merger goes through there is fear that the merc can have a monopoly on clearing all transactions,they would be able to charge anything they want....but they would be the biggest exchange in the world..

[Chicago2020]

Found these cool renderings from the NewEastside Site

New Monroe Harbor

http://img86.imageshack.us/img86/7656/100overalldr2.jpg

http://img90.imageshack.us/img90/4458/99croppedvv5.jpg

http://img412.imageshack.us/img412/5838/98improvementsho6.jpg

http://img72.imageshack.us/img72/5571/95piersketchesgd7.jpg

http://img90.imageshack.us/img90/4888/97optionsaw2.jpg

[aaron38]

Oh that is really cool. The pier was one of my favorite things from Santa Monica. It would be great to have a pier like that.
Navy Pier's bulk never lets you get the feel of being out in the water.
And you can only see half of the skyline at a time. The view from out there would be amazing.

[BorisMolotov]

^ ^
Right, that would be an AMESOME view! Th one thing I would do at the end of the pier would be to make sort of a viewing area to look at the skyline.

[spyguy]

New Monroe Harbor

Looks like a cool idea, however, I assume it's on hold until the whole Olympics bid is figured out.

[honte]

^ I thought the Monroe Harbor was scrapped because so many people were pissed it would screw up the open lakefront feeling from Grant Park? I love the pier, but otherwise I am a little sad to see it's still "floating around" (har har).

[honte]

I've had a suspicion for awhile but have had to come to terms that Chicago's preservation community is a paper tiger.... where are the leaders..? columnist, newsmakers, politicians? the Old Merc, Jewlers row, ...... i get the game now.... do a disney facade save and build new...... Medinah Temple lost....

i give up.... demolish everything .... ..Mag Mile losing last bit of local character


Don't fret, Lukecuj. Caring about these things can be extremely frustrating at times, but preservation in Chicago is alive, if not a perfect situation. The leaders, and less so, the community at large, are out there, but when the city makes up its mind, there is hardly anything you can do that is actually effective. Consider how much effort and money it's taken to keep Cook County Hospital standing this long.

Preservation in Chicago, like so many things here, is political and is based on the "deal." You win some and you lose an equal if not greater number.

I spent a day in western Lake Forest and Glencoe over the weekend, and I have to say, coming back to Chicago was refreshing. I cannot believe the state of those communities. Glencoe is nearly a total loss - one giant McMansion subdivision. Almost all the little, interesting houses - both old and Modern - that I used to love so dearly are nearly gone. It's so disheartening; they'll never know what they had.

[SamInTheLoop]

I walked by the other day and was pleased to see the Couch Place improvement project well under way. Open questions: Does anybody know when this is supposed to be completed? Also, this may have been discussed previously, but does anybody know if the city intends to similarly upgrade Couch Place between State and Wabash?

[Alliance]

Found these cool renderings from the NewEastside Site

Do we really think these will go through considering they'd have to be taken down for the olympic rowing courses?

[Loopy]

I walked by the other day and was pleased to see the Couch Place improvement project well under way. Open questions: Does anybody know when this is supposed to be completed? Also, this may have been discussed previously, but does anybody know if the city intends to similarly upgrade Couch Place between State and Wabash?
The goal is to have the project wrapped up before the May 11th "Looptopia" event.

And no, it does not extend any further than what you saw between State and Dearborn.

[Patel]

Found these cool renderings from the NewEastside Site

New Monroe Harbor

]

Great find 2020. I never knew about these plans. I think this would be great for DuSable Park. It would make it a much more useable park.

[SamInTheLoop]

The goal is to have the project wrapped up before the May 11th "Looptopia" event.

And no, it does not extend any further than what you saw between State and Dearborn.

Thanks. Hopefully within the next couple years a similar improvement will be planned for the block between State and Wabash...

[AJphx]

Great find 2020. I never knew about these plans. I think this would be great for DuSable Park. It would make it a much more useable park.
how would this affect DuSable Park? It isn't connected to DuSable. This looks like it is just an upgrade to the current Monroe Harbor off of Grant Park.

[Patel]

how would this affect DuSable Park? It isn't connected to DuSable. This looks like it is just an upgrade to the current Monroe Harbor off of Grant Park.

Yep, I didn't look real close. Just saw the name DuSable Harbor.

Thanks.

[trvlr70]

I spent a day in western Lake Forest and Glencoe over the weekend, and I have to say, coming back to Chicago was refreshing. I cannot believe the state of those communities. Glencoe is nearly a total loss - one giant McMansion subdivision. Almost all the little, interesting houses - both old and Modern - that I used to love so dearly are nearly gone. It's so disheartening; they'll never know what they had.
I'm from the North Shore. I think most of the eastern areas of the suburbs, with housing stock from the turn of the century, are not in danger of teardowns as much. The homes are quite large now and very stately. However, the newer(mid-century moderns) on the western edges of Winnetka, Glencoe and Highland Park are more vulnerable. I have mixed feelings about some of them.

[Loopy]

^ I thought the Monroe Harbor was scrapped because so many people were pissed it would screw up the open lakefront feeling from Grant Park? I love the pier, but otherwise I am a little sad to see it's still "floating around" (har har).
Yes, Friends of the Parks opposed it on the grounds that it was counter to the goals of the "Grant Park Framework" plan which called for no further expansion of the Monroe Harbor.

Personally, I think limiting yacht harbors to protect "open water vistas" is a bit nebulous in Chicago. Perhaps in Florida, moored boats are considered visual pollution. But in Chicago I think they are quite beautiful and evocotive of our one-true-love...Summer.

[jpIllInoIs]

^^^Actually this Monroe Harbor proposal will be conected by the proposed pedestrian bridge at DuSable Park!

[honte]

Yes, Friends of the Parks opposed it on the grounds that it was counter to the goals of the "Grant Park Framework" plan which called for no further expansion of the Monroe Harbor.

Personally, I think limiting yacht harbors to protect "open water vistas" is a bit nebulous in Chicago. Perhaps in Florida, moored boats are considered visual pollution. But in Chicago I think they are quite beautiful and evocotive of our one-true-love...Summer.

Thanks Loopy. So, is the Park District still pursuing this?

[Loopy]

Thanks Loopy. So, is the Park District still pursuing this?
I don't think so. The renderings that were posted on the last page of this thread were from late 2002. There was a noisy public review in 2003 and I think it has been shelved. By the way the site where those renderings came from, neweastside.org, opposes the plan. Here is another page of theirs where the renderings are marked up with comments. Daniel Burnham would have just hated this plan, they say.

http://www.neweastside.org/SaveMonroe.html